Karachi: The KSE-100 index experienced a significant decline, closing at 181,629, marking a drop of 4,626 points. Trading volumes increased to 1,551 million shares compared to the previous 985 million. Analysts anticipate that the index could test support levels at 179,504, with potential further declines targeting the 30-day moving average at 176,278. Resistance is expected between 182,110 and 185,215 should the index attempt an upward movement. Investors are advised to consider buying on dips, with risks identified below 179,504.

According to JS Global, key stocks such as Pakistan Petroleum Limited (PPL) are showing support at the 200-day moving average. The recommended strategy is to 'Buy on dips,' targeting price levels of Rs242.94 and Rs247.35, with a stop-loss at Rs235.80. Similarly, DG Khan Cement (DGKC) is poised to fill an upward gap, with advised buying on dips targeting Rs232.08 and Rs237.49, and a stop-loss at Rs213.12. The market outlook remains focused on navigating support and resistance levels amidst ongoing volatility.